Applied Aerospace & Defense valued at $3.5 billion in NYSE debut
Applied Aerospace & Defense achieved a valuation of $3.54 billion after its shares opened 3.8% above the offer price.
The company raised $650 million in the IPO by selling 32.5 million shares within the marketed range of $18 to $21 apiece.
The stock opened at $20.75, compared to the offer price of $20, setting the tone for a busy week of initial public offerings.